Power & Instrumentation (Gujarat) Limited has informed regarding Disclosure of material issue

The Board of Directors, in a meeting held on March 18, 2026, approved the allotment of 5,43,531 fully paid-up equity shares upon conversion of an equal number of convertible warrants. The shares were issued at Rs. 83.75 per share, including a premium of Rs. 73.75, to 1 promoter entity (Padmaraj P Pillai HUF) and 5 non-promoter allottees on a preferential basis. Following this allotment, the company's paid-up equity capital has increased from Rs. 20.32 crore (2,03,25,369 shares) to Rs. 20.87 crore (2,08,68,900 shares). This is part of an earlier preferential issue of 50,96,000 warrants, of which 42,52,469 were previously converted and these 5,43,531 are now being converted, indicating near completion of the warrant exercise. The combined post-allotment holding of these allottees rose from 4.39% to 6.88% of the paid-up capital.